Description

The global economy has weathered the latest in a series of shocks better than expected, but outcomes have diverged across countries. Resilience should not be taken for granted—there is no room for complacency in a rapidly changing world marked by heightened uncertainty, profound structural transformations, and significant vulnerabilities. Caution is also warranted given that buffers and policy space have been further eroded. Policymakers must deploy tools at their disposal within credible fiscal and monetary frameworks to safeguard macroeconomic and financial stability, and deliver reforms that enhance private sector dynamism, growth, and prosperity. Fostering international cooperation is more challenging at a time of geoeconomic fragmentation, yet it remains essential to manage cross-border risks and bolster global stability. In this more complex environment, the IMF is prepared to act decisively and deploy all its tools in support of the membership. We are also updating and upgrading our surveillance, lending framework, and capacity development (CD) to better support our members and provide them with a trusted platform for cross-country cooperation.

More publications in this series: Policy Papers